FXC Fund Description

The CurrencyShares Canadian Dollar Trust tracks the changes in value of the Canadian dollar relative to the US dollar.

FXC ETF.com Insight

Investors interested in accessing the Canadian dollar without the hassles of a separate foreign exchange account need look no further than FXC. For 40 bps, the fund provides direct exposureInvestors interested in the Canadian dollar need look no further than FXC to the Canadian currency by holding physical Canadian dollars in a JPMorgan deposit account. Its simple structure, which allows it to track the spot exchange rate well, earns it our Analyst Pick ribbon. Still, FXC is not totally without its warts—there’s no deposit insurance on its holdings (it carries credit risk of its depository, JPMorgan), and sales of shares are always taxed at ordinary income rates, regardless of holding period. (Insight updated 06/24/2013)

1 Year
Performance [as of 10/22/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
FXC -1.83% -4.43% -5.33% -8.27% -3.38% -1.32% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FXC Top 10 Holdings

FXC Summary Data

Guggenheim

A company that produces and manages ETFs.

06/21/06

The first date of a fund's operations, as documented by the issuer.

Grantor Trust

The organizational structure of the fund or ETN.

0.40%

The net total annual fee a fund holder pays to the issuer.

$252.87 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$6.58 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

FXC Portfolio Data

0.68%

The fund’s trailing twelve month yield, displayed as a percentage.

11/03/14

The upcoming date on which the fund trades without its upcoming dividend

In Specie

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

Related ETFs to FXC

FXA, CCX

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

FXC ETF.com Efficiency Insight

FXC holds physical Canadian dollars in a deposit account, but this simple structure has some kinks. There’s no deposit insurance for the fund, and as a result, it carries risk linked to the credit-worthiness of its depository—JPMorgan. Tax efficiency is also a concern—unlike most equity ETFs, all distributions from FXC and share sales are always taxed as ordinary income. Still, it charges a competitive 40 bps and has a large asset base. (Insight updated 06/24/2013)

Total Return - 06/24/2014
Performance [as of 06/24/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
FXC 1.20% 4.28% -1.01% -2.16% -2.62% 1.45% --
FXC (NAV) 1.32% 4.50% -0.97% -1.77% -2.70% 1.33% --
Canadian Dollar Spot -- -- -- -- -- -- --
IU Canadian Dollar Index 1.27% 4.64% -0.75% -1.31% -2.21% 1.88% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FXC Portfolio Management

0.40%

The net total annual fee a fund holder pays to the issuer.

FXC Tax exposures

39.60% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

--

The average annualized short–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

--

The average annualized long–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

0.16%

The average annualized ordinary income distributions from the fund over a 3 year period, displayed as a percentage.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

FXC Fund Structure

Grantor Trust

The organizational structure of the fund or ETN.

In Specie

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

No

An indicator of whether the fund uses over-the–counter derivatives such as swaps or forwards to achieve its objectives.

N/A

The institution responsible for providing the return of the stated index or holding the deposits of physical currrency, whose credit is the sole backing of the product.

Low

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

None

The frequency of an issuer's disclosure of all fund holdings.

FXC ETF.com Tradability Insight

FXC’s median daily dollar volume over $3M makes it a solid choice with regards to liquidity. FXC is also incredibly easy to hedge for market makers, which lends to its high block liquidity score—a plus for those trading in size through liquidity providers. Smaller investors should find minimal entry and exit costs given the fund’s tight bid-ask spread. (Insight updated 06/24/2013)



Average Spread
Premium/Discount
Volume

FXC ETF.com/ Block LiquidityAs of 10/23/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of FXC. FXC is rated a 5 out of 5.

FXC Tradability

73,452

It is the daily number of shares traded, averaged over the past 45 trading days.

$6.58 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

58,244

Median number of shares traded over the past 45 trading days.

$5.34 M

Median dollar value of shares traded over the past 45 trading days.

0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.03

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.01%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.83% / -0.77%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

1.16

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.01%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

33,690

The total number of net outstanding options contracts for an ETF.

$88.73

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

FXC ETF.com Fit Insight

FXC provides excellent exposure to the Canadian dollar because it holds physical currency, unlike other fund strategies that use derivatives. So it’s no surprise that FXC does so well in Fit. Like our segment benchmark, FXC earns interest on its deposits—currently, FXC earns an interest rate that lags our benchmark’s rate, but more than makes up for its 0.40% expense ratio. (Insight updated 06/24/2013)

FXC Top 10 Holdings

FXC Top 5 Collateral Investments

FXC Performance Statistics

1.00

The degree to which the fund and its segment benchmark move up and down in unison.

1.00

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.01

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.99

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

FXC Currency Exposure

FXC Segment Benchmark
100.00% 100.00%

FXC Portfolio Tilts Comparison

FXC Segment Benchmark
0.0 0.0

Price sensitivity in percentage to a 100 basis point parallel shift (up or down) in interest rates.

-- --

The average remaining days until maturity for all currency contracts in the portfolio.

1.00% 0.68%

The annualized current overnight yield of the portfolio.